Friday, 24 July 2009

Philippines sees $8-B investments in tourism in 5 years

Manila Bulletin

The private sector is targetting another $8 billion worth of investments in the tourism sector and $30 billion tourism receipts by 2015 based on 32 million cumulative tourist arrival projection over a five year period.

Private sector tourism champion Samie Lim, who is also vice-chairman of the Philippine Chamber of Commerce and Industry (PCCI), told reporters they would be presenting these targets during the Tourism Summit on August 24-25.

“We are presenting these cumulative figures to impress upon government and to justify the incentives that would be granted to investors in the tourism sector under the Implementing Rules and Regulations of the Tourism Act,” Lim said.

Lim said the 5-year 2005-2010 Tourism program of the PCCI, a brainchild of Lim, is expected to fully attain its target of $8 billion in investments although they may be short of the 5 million tourist arrival projection by 2015.

Lim, however, said they are confident of hitting 4 million by 2010. Tourist arrivals have now reached 3.2 million.

The private sector is now gearing up for the crafting of the IRR and would like to ensure that the government would would stay faithful to its commitment for a private-public sector partnership in the promotion of the tourism industry.

Lim noted that the law has mandated for private sector representation in the Tourim Promotion Board, the marketing and promotions arm provided for in the Tourism Act.

He added that in the Regional Development Council of the Local Government Code has specified for private sector representatives but it turned out the members turned out to be wives or relatives of the local officials.

He stressed that the private sector representatives in the TPB and in the regional councils must be individuals who made a difference in the industry and not just simply a 30-year old practitioner, but who does not have a contribution to the industry.

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